Table 13-2 A New Young Mother Has Opened a Cloth Diaper Service.She

question 92

Multiple Choice

Table 13-2
A new young mother has opened a cloth diaper service.She is interested in simulating the number of diapers required for a one-year-old.She hopes to use this data to show the cost effectiveness of cloth diapers.The table below shows the number of diapers demanded daily and the probabilities associated with each level of demand.

-According to Table 13-2, what is the cumulative probability that demand is less than or equal to 7?

• A)0.85
• B)0.95
• C)0.80
• D)0.15

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Definitions:

Market Segment

A distinct group of consumers within a broader market who share similar needs, preferences, or characteristics that a company targets with specific products or marketing strategies.

Market Development

Involves expanding the potential market through new users or new uses for a product, aiming at increasing the total market for the product.

Newly Developed Products

Refers to items that have been brought to the market recently, showcasing innovative features or advancements not previously seen.

Growth Strategy

A plan of action aimed at increasing the size and scope of a business, usually through expanding operations, entering new markets, or increasing market share.